Land regulations, complemented by unparalleled competitions has urged property dealers in metro cities to adopt mixed land use in their development pattern which enables more floor space index (FSI) along with weaving a social fabric for the locality. Bangalore, currently, is witnessing similar growth in posh areas like Koramangala, Indiranagar 100 Feet Road, Jaya Nagar, R T Nagar, Malleswaram, Richmond town and New BEL Road.
Naveen Nandwani, Director – South India, Cushman and Wakefield, highlighted that the above areas already support commercial and retail zones up to the allowed 20-30%, rest of the jigsaw puzzle being filled up by residential blocks. Their position being around the radial corridors within the city, leading to the Outer Ring Road circling Bangalore, has gained them the permission for this mix-n-match.
Under this dynamic present scenario of real estate, mixed use developments tend to bag builders’ preference, as they can help reduce the base rental and hike revenue for developers operating on a revenue share model, which also increases feasibility for retailers.
This concept seems to be a wholesome package involving retail, accommodation, entertainment and shopping, in turn diversifying the tenant profiles and thus minimizing the risks of builders’ investment.
The viability and longevity of projects have also gained an up-thrust as service apartments, hotels and office markets are adding to platter of facilities undoubtedly enjoyed by local residents.
Dreamz Infra acknowledges the trend and has planned for such development projects in near future. The main motto “Building Affordable homes” and driving force “Customer Satisfaction” for dreamz infra still remains to be on priority.